SNB responds to its inclusion on US FX manipulation watchlist

Switzerland added back to the FX list

Comments from Swiss officials:

  • Swiss don’t manipulate currency for export advantage
  • Interventions only motivated by monetary policy
  • Objective for interventions is effect of too strong franc
  • Interventions not intended to create unfair advantage

The US didn’t even come close to naming them a ‘currency manipulator’ when they were outright and openly manipulating the currency, so they don’t have any reason to worry now.


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